Netskrt aims to broaden its innovative streaming technology to new markets globally
A Vancouver tech firm is expanding its high-definition video streaming technology to more international markets with the raise of new capital.
Netskrt Systems Inc., which specializes in technology that improves streaming video quality over far distances or in rural areas, announced Wednesday (May 1) it’s secured $10 million in a Series A funding round led by venture capital fund Yaletown Partners.
InBC Investment Corp. and Credit Mutual Equity also participated.
The company’s edge content delivery network (eCDN) enables streaming subscribers to view content at higher qualities, including locations and environments that traditional content delivery networks can’t reach.
“This financing marks a significant milestone in Netskrt’s journey, affirming investor confidence in our vision, team and opportunity for significant growth,” Siegfried Luft, CEO and co-founder of Netskrt, said in a statement.
“The Netskrt eCDN uniquely enables streaming subscribers to view content at the highest quality, in locations ranging from the urban, rural or remote neighbourhoods, to 30,000 feet in the air.”
The company launched a trial in 2022 that saw British rail service London North Eastern Railway Ltd. (LNER) tapping Netskrt’s tech to ensure buffering problems don’t plague passengers travelling between London and Edinburgh. Netskrt eliminates bandwidth bottlenecks in a way that might be compared to how an individual downloads an episode of Stranger Things in advance of a trip.
In that case, though, a Netskrt device on board the trains essentially stored episodes from a streaming service, and then delivered those episodes directly to train passengers logged into LNER’s Wi-Fi.
Netskrt, which now offers services in Canada, the U.S. and the U.K., said this investment will allow it to expand its eCDN offerings into international markets including Europe and South America, as well as airlines and other travel markets.
“Netskrt’s innovations are addressing a large market demand and will benefit Canadians and subscribers worldwide, particularly those living in remote and rural communities who are underserved by existing technology,” said Leah Nguyen, chief investment officer of InBC Investment Corp.
